Bespoke Salary Intelligence Tool
AEG is a leading provider of live entertainment and sporting events in the world, owning and operating some of the world’s greatest arenas and theatres as well as a collection of companies dedicated to producing, promoting and presenting world-class live entertainment.
AEG Europe engaged True North to undertake a bespoke review of their salary ranges and structures to provide them with accurate, reliable market data and insight on which to build their future growth strategy as well as delivering transparency and consistency about future pay decisions. In addition, AEG wanted a tool which upon completion of the project, they could manage on an ongoing basis with their own in house resource.
Such a unique and diverse business as AEG encompasses a wide and complex range of roles, this creates a challenge in finding comparable organisations and roles against which to benchmark remuneration consequently, “off the shelf” salary surveys were deemed as inappropriate. In addition, due to acquisitions, attrition and internal promotions, salaries at AEG Europe have slowly evolved over time and there was a lack of transparency on where all the current roles sit in comparison to the external market. Finally there was internal “noise” that some areas of the business felt that they weren’t paid the same as other organisations and the HR team wanted reliable, market data on which to influence the business and respond to such demands.
True North therefore created a bespoke salary intelligence solution for AEG Europe. Leveraging the expertise of our consulting and our executive search divisions, we conducted a bespoke compensation review, uniquely tailored to focus on the AEG core target market competitors, complemented with external formally recognised salary market data.
We created a tool and a process which offered a transparent and objective evaluation of the current salaries at AEG and cross referred this against comparable roles within the marketplace in target competitor organisations, giving AEG live, real time, actual salary information of the relevant external talent landscape.
This insight was formally presented back to AEG Europe enabling them to have an accurate overview of exactly where there salaries sat in the market place, function by function. This allowed AEG Europe the ability to focus on retaining existing talent and highlight any “risk” areas / functions to review as well as providing valuable research and intelligence about other organisations in the same industries / functions.
At the end of the project, the tool and all the data and insight became the intellectual property of AEG Europe.
About True North
True North advise and build the leadership and management teams of some of the world’s most innovative and fast growth technology enabled businesses. We also work with corporates undertaking ambitious change and transformation.
For more information about this project or our other services please contact Norman Burden or email us at email@example.com.